DOCSLIB.ORG

Air New Zealand Adjusted Its Business Quickly to Manage the Impact of Covid-19

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Air New Zealand Adjusted Its Business Quickly to Manage the Impact of Covid-19 Media release 27 August 2020 Air New Zealand adjusted its business quickly to manage the impact of Covid-19 Air New Zealand today announces its 2020 result, affirming the unprecedented effect of the Covid- 19 pandemic on its business and the global aviation industry following extensive travel and border restrictions which commenced from March. Air New Zealand is reporting a loss before other significant items and taxation of $87 million1 for the 2020 financial year, compared to earnings of $387 million in the prior year. Despite reporting a strong interim profit of $198 million2 for the first six months of the financial year, and seeing positive demand on North American and regional routes early in the second half, Covid- related travel restrictions resulted in a 74 percent drop in passenger revenue from April to the end of June compared to the prior year, which drove the airline’s operating losses. Statutory losses before taxation, which include $541 million of other significant items, were $628 million, compared to earnings of $382 million last year. Non-cash items of $453 million reflected most of the other significant items, including the $338 million aircraft impairment charge related to grounding of the Boeing 777-200ER fleet for the foreseeable future. The airline has responded to this crisis with urgency, including securing additional liquidity, structurally reducing its cost base and deferring significant capex spend, whilst ensuring that the business remains well positioned to grow profitably when travel restrictions are eventually removed and customer demand returns. Quick and decisive action in response to Covid-19 Air New Zealand’s Chairman Dame Therese Walsh says she is proud of the way the business has responded to this crisis, acting with speed and agility to lower the cost base, and pivoting quickly to ramp up domestic and cargo services to help keep the New Zealand economy moving. These actions, along with the strategic review the airline has undertaken in parallel to managing this crisis, ensure that Air New Zealand remains in a strong and competitive position when travel restrictions lift. “The 2020 financial year has been a year of stark contrast. Air New Zealand had a solid start to the year and was focused on driving profitable growth into the second half. We were also preparing to launch the first ever non-stop link between New Zealand and New York and had announced several exciting innovations in the customer experience space. “Now, nearly 6 months following the declaration of a global pandemic, the $87 million loss we are reporting today, our first loss in 18 years, reflects the quick and severe impact Covid-19 has had on our business” says Dame Therese. “Faced with such a swift decline in revenue as lockdown restrictions were implemented and borders were closed, we took immediate steps to secure $900 million in additional funding, and drastically 1 Earnings before other significant items and taxation represent Earnings stated in compliance with NZ IFRS (Statutory Earnings) after excluding items which due to their size or nature warrant separate disclosure to assist with understanding the underlying financial performance of the Group. Earnings before other significant items and taxation is reported within the Group’s audited annual financial statements. 2 Represents Earnings before other significant items and taxation. reduced our cash burn in the knowledge that, for a time, we would be a much smaller business than we had been pre-Covid” Dame Therese says. In preparation for the eventual recovery of demand, the Board has recently endorsed a refresh of the airline’s strategy which is focused on sustaining competitive strengths and ensuring long-term positive outcomes for customers, staff, the broader community and shareholders. “The Board and I are fully supportive of the new strategy that Greg and his Executive team have been working on in parallel to dealing with this crisis. We have a clear focus on where our business is heading, and I am confident Air New Zealand will be ready when the recovery occurs” Dame Therese says. Chief Executive Officer Greg Foran will provide more context at the airline’s Annual Shareholders’ Meeting on 29 September, which will include a discussion of the airline’s network focus, enhancements to its AirpointsTM loyalty programme, sustainability focus and digital priorities. Liquidity and cash burn update Short-term liquidity as at 25 August 2020 was approximately $1.1 billion, made up of cash and the $900 million standby loan facility from the New Zealand Government. Due to the strong cash position pre-Covid-19, swift action taken by management to reduce cash burn and a better than expected return of domestic demand after the initial lockdown was lifted in New Zealand, the airline has not yet utilised the standby loan facility. However, it expects to start drawing on these funds in the coming days. Cash burn averaged approximately $175 million per month from April to June, including higher than average refunds, redundancy payments and fuel hedge close out costs, but this reduced to $85 million for July. The airline is estimating the go forward average monthly cash burn to be in the range of $65 million to $85 million while international travel restrictions remain and assuming resumption of domestic travel with no social distancing requirements, as well as a continuation of government-supported cargo flights. Dividend and capital structure update The Board is focused on preserving Air New Zealand’s liquidity across a range of potential demand recovery scenarios. Given current financial pressures as the airline manages the impact of Covid-19, the Board has determined that it will not declare a final dividend for the 2020 financial year. The Government has recently reaffirmed the Crown’s long-standing commitment to maintaining its majority shareholding in Air New Zealand, having regard to the unique and critical role the company has in New Zealand’s economy and society. This is reflected in the Crown loan facility that provides Air New Zealand with liquidity support whilst the airline works through to a permanent solution. Air New Zealand is engaging constructively with the Crown as it continues to assess its capital structure and funding needs. Focused on operational resilience Chief Executive Officer Greg Foran says Covid-19 has highlighted once again that the core strength of the airline is its people and their ability to respond to change quickly. “I am in awe of the dedication, perseverance, and professionalism of Air New Zealanders across the business and never cease to be amazed at the resilience and strength of our people as we work our way through this crisis. “Whether it be volunteering to crew repatriation flights to unfamiliar ports, dealing with substantial increases in volume at the call centre, or our cargo team’s efforts to keep New Zealand exporters connected to global markets, the response of our people has been nothing short of remarkable” he says. “I also recognise this has been a particularly trying time for our customers with the mass cancellation of flights and continuing uncertainty regarding international travel. I would like to apologise sincerely for the fact that we didn’t live up to customers’ expectations in the way we handled the processing of customer credits. I would also like to thank our customers for their ongoing support and patience” says Mr Foran. Last month, the airline was pleased to roll out the initial stages of a digital tool for customers to view and redeem their credits online. To date, more than 70,000 customers have utilised the tool to redeem existing credits into new bookings. In June and July, the airline experienced heavy demand for domestic travel, particularly into leisure destinations such as Queenstown and was operating around 70 percent of its pre-Covid Domestic network. Mr Foran says “It has been great to see our domestic business perform well ahead of our expectations in June and July as the New Zealand public once again shows us that they have an innate love of travel. We are also pleased to have ramped up our cargo offering in recent months, flying more than 50 flights per week under the International Airfreight agreement we signed with the Ministry of Transport in late April. These cargo services ensure key goods such as medical supplies and food continue to flow in and out of New Zealand. However, we have to bear in mind that with almost 70 percent of our revenue derived from international flying, while border restrictions remain in place our business will continue to be significantly impacted. The recent resurgence of community transmission in New Zealand in August, has also reminded us that we cannot afford to be complacent.” “In the airline’s 80-year history we have faced many challenges and emerged from each one stronger than before. We entered this crisis in an enviable position, and with our core Domestic network, I believe we are better positioned for recovery than many of our airline peers. “But given the restructuring and consolidation we had started to see within the global aviation industry, we need to be hyper vigilant and protect our core competitive advantages. It is clear that Covid-19 is unlike any other crisis the aviation industry has experienced and we will need to be more nimble than ever as borders reopen” Mr Foran says. Outlook for 2021 Given the uncertainty surrounding travel restrictions and the level of demand as these restrictions lift, Air New Zealand is currently not able to provide
Load more

Recommended publications
  • Annual Report 20 07 Aviation Industry Association of New Zealand (Inc) Contents
    AVIATION INDUSTRY ASSOCIATION OF NEW ZEALAND (INC) Annual Report 20 07 Aviation Industry Association of New Zealand (Inc) Contents General Association Officers 2 Past Officers/Life Members 3 President’s Report 5 Chief Executive Officer’s Report 13 Financial Statements 18 AIA Annual Conference Report 28 Aviation Training Report 52 Aviation Services Ltd 55 AIRCARE Annual Report 2007 57 List of Advertisers 60 Divisional Chair Reports NZAAA (Agricultural Aviation) 31 Air Rescue/Air Ambulance 34 Air Transport 35 Education and Research 37 Engineering 38 Flight Training 40 Annual Report Helicopter 42 Supply & Services 44 Tourist Flight Operators 49 20 Cover Photo: The Auckland Rescue Helicopter Trust’s BK117B2 ZK HLN over central Auckland being flown by the Trust’s Chief Pilot Dave Walley. The Single Pilot IFR, NVG Configured helicopter came into service with the Trust on 01January 2007 and completed its 300 hr check 01 July 2007. 07 ANNUAL REPORT 2007 2 Association Officers 2006–2007 Council Head Office President: Chief Executive: W.J. Funnell, Helicopter Services BOP Ltd I.S. King Vice-Presidents: W.P. Taylor, Eagle Airways Ltd Office Manager: W. Sattler, Ardmore Flying School Ltd P.A. Hirschman Immediate Past President: Membership Liaison Manager: D. Thompson, Dennis Thompson International Ltd D. Watson Councillors Technical Advisors: J. McGregor M. Chubb J. Lusty K. MacKenzie D. Webb B. Wyness P. Garden D. Lyon D. Morgan R. Wikaira F. Douglas D. Horrigan P. Mackay A. Peacock NZAAA Executive Officer: Divisional and Branch Chair J.F. Maber Agricultural Aviation Division Office Address: Chair: K.J. MacKenzie, MacKenzie Aviation Ltd Level 5 Deputy Chair & South Island Branch Chair: Agriculture House T.
    [Show full text]
  • Flying High on Schwank's Infrared Efficiency a Schwank Case Study
    Schwank Case Study: Flying High on Schwank‘s Infrared Efficiency “The heating levels in our facilities are very comfortable and cope well with the chan- ges in weather that we experi- ence. We are very happy with The Company The Issue Schwank”. Air Nelson is a wholly owned sub- Energy efficiency, longevity, control- sidiary of Air New Zealand operating lability, quick reaction times and flexi- Mark Butchart, under the Air New Zealand brand. bility were all extremely important. Production Manager, The airline was started in 1976 and Planes coming in and out regularly Air Nelson began its first scheduled service in create high air changes due to the 1984 to connect to Wellington. The frequent door openings. Furthermore, network then grew to include Nelson, cold incoming airplanes act like ice Wellington, Auckland, Christchurch blocks making the environment very and other domestic destinations. challenging for conventional heating systems. To compensate for these In 1995 Air New Zealand purchased sudden “shock” heat losses and to Air Nelson, which now operates provide homogenous heat distribu- 23 Bombardier Q300s being the tion in the hangars was an imperative world’s largest operator of this type requirement for the Air New Zealand of aircraft. Air New Zealand recently technical department. invested 30 million dollars at Nel- son airport in order to expand on Air New Zealand’s appointed consult- its infrastructure to include modern ing engineers, Pacific Consultants maintenance facilities for its com- from Wellington, then had the task of muter airlines. Today also the entire specifying a system that was suit- ATR-72 aircraft fleet of Mount Cook able to meet the requirements for Airline, also part of the Air New Zea- both hangars.
    [Show full text]
  • Airlines Codes
    Airlines codes Sorted by Airlines Sorted by Code Airline Code Airline Code Aces VX Deutsche Bahn AG 2A Action Airlines XQ Aerocondor Trans Aereos 2B Acvilla Air WZ Denim Air 2D ADA Air ZY Ireland Airways 2E Adria Airways JP Frontier Flying Service 2F Aea International Pte 7X Debonair Airways 2G AER Lingus Limited EI European Airlines 2H Aero Asia International E4 Air Burkina 2J Aero California JR Kitty Hawk Airlines Inc 2K Aero Continente N6 Karlog Air 2L Aero Costa Rica Acori ML Moldavian Airlines 2M Aero Lineas Sosa P4 Haiti Aviation 2N Aero Lloyd Flugreisen YP Air Philippines Corp 2P Aero Service 5R Millenium Air Corp 2Q Aero Services Executive W4 Island Express 2S Aero Zambia Z9 Canada Three Thousand 2T Aerocaribe QA Western Pacific Air 2U Aerocondor Trans Aereos 2B Amtrak 2V Aeroejecutivo SA de CV SX Pacific Midland Airlines 2W Aeroflot Russian SU Helenair Corporation Ltd 2Y Aeroleasing SA FP Changan Airlines 2Z Aeroline Gmbh 7E Mafira Air 3A Aerolineas Argentinas AR Avior 3B Aerolineas Dominicanas YU Corporate Express Airline 3C Aerolineas Internacional N2 Palair Macedonian Air 3D Aerolineas Paraguayas A8 Northwestern Air Lease 3E Aerolineas Santo Domingo EX Air Inuit Ltd 3H Aeromar Airlines VW Air Alliance 3J Aeromexico AM Tatonduk Flying Service 3K Aeromexpress QO Gulfstream International 3M Aeronautica de Cancun RE Air Urga 3N Aeroperlas WL Georgian Airlines 3P Aeroperu PL China Yunnan Airlines 3Q Aeropostal Alas VH Avia Air Nv 3R Aerorepublica P5 Shuswap Air 3S Aerosanta Airlines UJ Turan Air Airline Company 3T Aeroservicios
    [Show full text]
  • Amendments to Civil Aviation Rule Part 121: Air Operations (Large Aeroplanes) Agency Disclosure Statement
    Regulatory Impact Statement for Amendments to Civil Aviation Rule Part 121: Air Operations (Large Aeroplanes) Agency disclosure statement 1. This Regulatory Impact Statement (RIS) has been prepared by the Ministry of Transport with assistance from the Civil Aviation Authority (CAA). It provides an analysis of options to: improve the safety of large aeroplane operations by ensuring flight crew assignment, training and competency requirements align with International Civil Aviation Organization standards (ICAO); ensure a clearer and more transparent application of Part 121 by reducing or removing unnecessarily restrictive rule requirements which, in some cases has forced industry to incur needless compliance costs. 2. There is some uncertainty concerning the analysis because New Zealand has not experienced a significant accident during training or competency assessment in large aeroplanes since 19661. Parts of the regulatory analysis are therefore based on international accident data which has identified human factors as a significant safety risk.2 3. The regulatory proposal will impose compliance costs on some operators of large sized aeroplanes. However, the proposed amendment should reduce costs to operators by removing the need to seek exemptions and providing increased flexibility to achieve compliance. Our assumption is that the proposed rule amendments will result in reduced safety risks and improved safety outcomes for New Zealand‘s travelling public. Industry unanimously support the preferred option to amend Part 121. 4. The proposal will not impair private property rights, market competition, or the incentives on businesses to innovate and invest, or override any of the fundamental common law principles. The proposal is consistent with our commitments in the Government statement Better Regulation, Less Regulation.
    [Show full text]
  • Civil Aviation Rule Part 125 Update Agency Disclosure Statement
    Regulatory Impact Statement Civil Aviation Rule Part 125 Update Agency Disclosure Statement This Regulatory Impact Statement (RIS) has been prepared by the Ministry of Transport (the Ministry), with assistance from the Civil Aviation Authority (CAA). It provides an analysis of options to address the safety risk associated with commercial passenger operations in medium sized aeroplanes (10-29 passenger seats), which are currently subject to less stringent operating requirements than larger aeroplanes (30 or more passenger seats), and to achieve compliance with International Civil Aviation Organization (ICAO) standards and recommended practices. The preferred option is to raise the operating standards for medium sized aeroplanes by amending Civil Aviation Rule Part 125, which governs commercial air transport in medium sized aeroplanes. It is reasonable to assume that higher operating standards will improve the level of safety afforded to passengers on medium sized aeroplanes. However, due to the minor and technical nature of the amendments, and a lack of relevent safety data for medium and large sized aeroplanes, the underlying risks and expected safety benefits are difficult to quantify. The proposed Rule amendment would impose compliance costs on operators of medium aeroplanes. Operators wishing to conduct extended over water operations1 will be required to train staff in aircraft ditching procedures, estimated at an initial cost of $7,500 per two person flight crew, with annual refresher training estimated at approximately $600 per crew member. Other compliance costs will arise where operators are required (if necessary) to amend their expositions2 ($400-$800 per operator), or amend their operations specifications (approximately $1,000 for each of the two operators affected).
    [Show full text]
  • Memorandum of Understanding
    MOU – Effective June 2009 (expected amendment November 2009) MEMORANDUM OF UNDERSTANDING Between MASSEY UNIVERSITY SCHOOL OF AVIATION And WINGS FLIGHT TRAINING And FOXPINE AIRPARK LTD And FLIGHT TRAINING MANAWATU And THE SQUARE TRUST RESCUE HELICOPTER And HELIPRO And AIR FREIGHT NZ LTD And AIRWORK FLIGHT OPERATIONS LTD And SUNAIR AVIATION LTD And ROYAL NEW ZEALAND AIRFORCE And AIR NELSON LTD And MT COOK AIRLINES And AIR NEW ZEALAND LTD And in conjunction with PALMERSTON NORTH AIRPORT LTD And AIRWAYS CORPORATION OF NZ LTD 1 MOU – Effective June 2009 (expected amendment November 2009) 1 PARTIES 1.1 Massey University School of Aviation is a flight training organisation located at Palmerston North Airport 1.2 Wings Flight Training is a flight training organisation also located at Palmerston North Airport. 1.3 Foxpine Airpark Ltd is an airport operator and a flight training organisation and is the owner of and operating from Foxpine Airport. 1.4 Flight Training Manawatu is a flight training organisation located at Feilding Aerodrome 1.5 The Square Trust Rescue Helicopter is located at the Palmerston North Hospital. 1.6 Helipro is a commercial helicopter operator also involved in flight training and has a base located at the Palmerston North Airport. 1.7 Air Freight NZ Ltd is a commercial operator based in Auckland and operates freight aircraft types Convair 580 / 5800 under the call sign of “Air Freight” 1.8 Airwork Flight Operations Ltd is a commercial operator based in Auckland and operates both F27 and Metro aircraft types on freight operations under the call sign of “Post”.
    [Show full text]
  • Download Issue 60 Complete
    10th Anniversary Issue KiwiFlyer TM Magazine of the New Zealand Aviation Community Issue 60 2018 #5 Aerobatic Sequencing $ 7.90 inc GST ISSN 1170-8018 Full Noise 35 returns to Reno Annual Supply & Maintenance Guide Air to Air at RIAT and more Products, Services, News, Events, Warbirds, Recreation, Training and more. KiwiFlyer Issue 60 2018 #5 From the Editor Features Welcome to the 10th Anniversary Edition of 8 Seven Days in September KiwiFlyer. It seems that an entire decade has Graeme Frew and the Full Noise 35 passed since Issue number one rolled off the Team return to race again at Reno. printing presses and into the post boxes of aircraft operators throughout New Zealand. 22 Tecnam’s Extensive Range 8 We’ve reflected about this in a column on the next Ruth Allanson outlines the range of page. Suffice to say producing each issue is still aircraft she now represents in NZ. an enjoyable endeavour and we plan to keep 30 Aerobatic Sequence Design going for quite some time yet. Grant Benns discusses some detailed This issue is another blockbuster effort at 80 insights into aerobatic sequence pages, thanks to the inclusion of our annual design, plus a helpful app. Supply and Maintenance feature which contains 38 Battle of Britain Memorial Flight numerous profiles and advertisements from all Gavin Conroy writes about a special manner of supply and maintenance providers occasion during his trip to the UK. throughout the country. 42 Guide to Supply and Maintenance 63 A highlight of this issue is the story of Graeme Our annual profile of major Frew and his Full Noise 35 team’s return to the providers throughout New Zealand.
    [Show full text]
  • 2035 Master Plan August 2016
    2035 Master Plan June 2016 2035 MASTER PLAN AUGUST 2016 CONTENTS 1.0 INTRODUCING OUR PLAN 3 5.7.2 Fire Rescue Building Location 18 5.8 Major Aircraft Maintenance 20 Our Vision, Our Mission 4 5.9 Engine Testing Bay 21 5.10 General Aviation 22 2.0 THE KEY ELEMENTS OF THE MASTER PLAN 5 5.11 Navigation Aids 23 5.12 Apron Demand Scenarios 24 3.0 PROTECTING OUR ENVIRONMENT 6 5.13 Apron Layouts 25 5.14 Planning 26 4.0 AERONAUTICAL FORECASTS 7 5.15 Helicopters 27 4.1 Passenger Projections 7 4.1.1 Estimated Passenger & Movements Forecast 7 THE TERMINAL 28 4.1.2 Capacity Projections 8 6.1 Current Terminal 28 4.1.3 Movement Projections 8 6.2 The New Terminal 29 6.3 Growth Beyond the New Terminal 31 5.0 AIRSIDE 9 5.1 Design Aircraft 9 LANDSIDE TRANSPORT 32 5.2 Constraints 10 7.1 External Access 33 5.3 Runway Strip Width and Taxiway Separation 11 7.2 Vehicle Volumes and Forecast 34 5.3.1 Runway Strip Width 11 7.3 Parking Volumes and Forecast 35 5.3.2 Taxiway Separation 11 5.4 Parallel Taxiway 12 LANDSIDE DEVELOPMENTF 36 5.5 Fuel Storage 13 8.1 Non-Aeronautical Commercial Development 36 5.5.1 Location Rationale 13 5.5.2 Dependency 13 Appendix One: Existing Airport Plan 37 5.6 Control Tower 15 5.6.1 Location of New Control Tower 17 Appendix Two: 2035 Master Plan 39 5.7 Rescue Fire 18 5.7.1 Part 139 Categorisation 18 nelson airport master plan page 2 We are pleased to be able to present our vision for the next 20 years at Nelson Airport.
    [Show full text]
  • New Zealand Adjusted Its Business Quickly to Manage the Impact of Covid-19
    Media release 27 August 2020 Air New Zealand adjusted its business quickly to manage the impact of Covid-19 Air New Zealand today announces its 2020 result, affirming the unprecedented effect of the Covid- 19 pandemic on its business and the global aviation industry following extensive travel and border restrictions which commenced from March. Air New Zealand is reporting a loss before other significant items and taxation of $87 million1 for the 2020 financial year, compared to earnings of $387 million in the prior year. Despite reporting a strong interim profit of $198 million2 for the first six months of the financial year, and seeing positive demand on North American and regional routes early in the second half, Covid- related travel restrictions resulted in a 74 percent drop in passenger revenue from April to the end of June compared to the prior year, which drove the airline’s operating losses. Statutory losses before taxation, which include $541 million of other significant items, were $628 million, compared to earnings of $382 million last year. Non-cash items of $453 million reflected most of the other significant items, including the $338 million aircraft impairment charge related to grounding of the Boeing 777-200ER fleet for the foreseeable future. The airline has responded to this crisis with urgency, including securing additional liquidity, structurally reducing its cost base and deferring significant capex spend, whilst ensuring that the business remains well positioned to grow profitably when travel restrictions are eventually removed and customer demand returns. Quick and decisive action in response to Covid-19 Air New Zealand’s Chairman Dame Therese Walsh says she is proud of the way the business has responded to this crisis, acting with speed and agility to lower the cost base, and pivoting quickly to ramp up domestic and cargo services to help keep the New Zealand economy moving.
    [Show full text]
  • List of Government-Owned and Privatized Airlines (Unofficial Preliminary Compilation)
    List of Government-owned and Privatized Airlines (unofficial preliminary compilation) Governmental Governmental Governmental Total Governmental Ceased shares shares shares Area Country/Region Airline governmental Governmental shareholders Formed shares operations decreased decreased increased shares decreased (=0) (below 50%) (=/above 50%) or added AF Angola Angola Air Charter 100.00% 100% TAAG Angola Airlines 1987 AF Angola Sonair 100.00% 100% Sonangol State Corporation 1998 AF Angola TAAG Angola Airlines 100.00% 100% Government 1938 AF Botswana Air Botswana 100.00% 100% Government 1969 AF Burkina Faso Air Burkina 10.00% 10% Government 1967 2001 AF Burundi Air Burundi 100.00% 100% Government 1971 AF Cameroon Cameroon Airlines 96.43% 96.4% Government 1971 AF Cape Verde TACV Cabo Verde 100.00% 100% Government 1958 AF Chad Air Tchad 98.00% 98% Government 1966 2002 AF Chad Toumai Air Tchad 25.00% 25% Government 2004 AF Comoros Air Comores 100.00% 100% Government 1975 1998 AF Comoros Air Comores International 60.00% 60% Government 2004 AF Congo Lina Congo 66.00% 66% Government 1965 1999 AF Congo, Democratic Republic Air Zaire 80.00% 80% Government 1961 1995 AF Cofôte d'Ivoire Air Afrique 70.40% 70.4% 11 States (Cote d'Ivoire, Togo, Benin, Mali, Niger, 1961 2002 1994 Mauritania, Senegal, Central African Republic, Burkino Faso, Chad and Congo) AF Côte d'Ivoire Air Ivoire 23.60% 23.6% Government 1960 2001 2000 AF Djibouti Air Djibouti 62.50% 62.5% Government 1971 1991 AF Eritrea Eritrean Airlines 100.00% 100% Government 1991 AF Ethiopia Ethiopian
    [Show full text]
  • Commerce Commission Draft Determinations
    ISSN NO. 0114-2720 J5633/J5645 PUBLIC VERSION Commerce Commission Draft Determinations Determinations pursuant to the Commerce Act 1986 in the matter of an application for authorisation of a business acquisition and in the matter of an application for authorisation of certain restrictive business practices and involving: QANTAS AIRWAYS LIMITED and AIR NEW ZEALAND LIMITED The Commission: MJ Belgrave PR Rebstock PJ Taylor DF Curtin D Bates QC Summary of Applications: The subscription by Qantas Airways Limited of up to 22.5% of the voting equity in Air New Zealand Limited pursuant to a Subscription Agreement between Air New Zealand Limited and Qantas Airways Limited (the proposed Acquisition); and The implementation by Air New Zealand Limited and Qantas Airways Limited of the terms of a Strategic Alliance arrangement which creates a Joint Airline Operation network (the proposed Arrangement) Draft Determinations: The Commission’s draft determination, on the basis of the information provided to date, is that it would be likely to decline an authorisation for the proposed Acquisition pursuant to s 67(3)(c) of the Act. The Commission’s draft determination, on the basis of the information provided to date, is that it would be likely to decline an authorisation for the proposed Arrangement pursuant to s 61(1)(b) of the Act. Date 10 April 2003 CONFIDENTIAL MATERIAL IN THIS REPORT IS CONTAINED IN SQUARE BRACKETS CONTENTS EXECUTIVE SUMMARY........................................................................................................ 9 Proposed
    [Show full text]
  • CHANGE FEDERAL AVIATION ADMINISTRATION CHG 2 Air Traffic Organization Policy Effective Date: November 8, 2018
    U.S. DEPARTMENT OF TRANSPORTATION JO 7340.2H CHANGE FEDERAL AVIATION ADMINISTRATION CHG 2 Air Traffic Organization Policy Effective Date: November 8, 2018 SUBJ: Contractions 1. Purpose of This Change. This change transmits revised pages to Federal Aviation Administration Order JO 7340.2H, Contractions. 2. Audience. This change applies to all Air Traffic Organization (ATO) personnel and anyone using ATO directives. 3. Where Can I Find This Change? This change is available on the FAA website at http://faa.gov/air_traffic/publications and https://employees.faa.gov/tools_resources/orders_notices. 4. Distribution. This change is available online and will be distributed electronically to all offices that subscribe to receive email notification/access to it through the FAA website at http://faa.gov/air_traffic/publications. 5. Disposition of Transmittal. Retain this transmittal until superseded by a new basic order. 6. Page Control Chart. See the page control chart attachment. Original Signed By: Sharon Kurywchak Sharon Kurywchak Acting Director, Air Traffic Procedures Mission Support Services Air Traffic Organization Date: October 19, 2018 Distribution: Electronic Initiated By: AJV-0 Vice President, Mission Support Services 11/8/18 JO 7340.2H CHG 2 PAGE CONTROL CHART Change 2 REMOVE PAGES DATED INSERT PAGES DATED CAM 1−1 through CAM 1−38............ 7/19/18 CAM 1−1 through CAM 1−18........... 11/8/18 3−1−1 through 3−4−1................... 7/19/18 3−1−1 through 3−4−1.................. 11/8/18 Page Control Chart i 11/8/18 JO 7340.2H CHG 2 CHANGES, ADDITIONS, AND MODIFICATIONS Chapter 3. ICAO AIRCRAFT COMPANY/TELEPHONY/THREE-LETTER DESIGNATOR AND U.S.
    [Show full text]